Search this Site

DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT 2017

The information found on this page and its attached links is for plan year 2017. This information is availableFOR REVIEW PURPOSES ONLYFor information on current year benefits, please return to the MAIN BENEFITS WEBPAGE and scroll down to the list of current year benefits.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

A Dependent Care Flexible Spending Account allows you (and your spouse, if applicable) to use pre-tax dollars to pay for the care of one or more qualifying IRS dependents. You will not pay federal, state or Social Security taxes on your elected amount. This generally means a 20% to 40% savings!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

WHAT IT IS AND HOW IT WORKS

Up to $5,000 of household income can be used tax-free to pay dependent care expenses.

Dartflex (Faculty, Exempt and Non-Exempt) and SEI Union employees. Research Associate B's and Research Fellows are not eligible to participate in the Dependent Care Flexible Spending Account Benefit.

Covered Dependents

Qualifying dependents may be defined as children under the age of 13 and your spouse, or a qualifying child or relative who is physically or mentally incapable of self care.

Eligible Expenses

You may use your Dependent Care FSA dollars to pay for child care services, a nanny, summer day camps, adult day centers for aging parents nursing care for the incapacitated or handicapped dependents, etc.

This is money that you put aside, each pay period on a pre-tax basis, that you later use to pay for eligible dependent care expenses.

You may contribute a maximum of $5,000 per household in 2017.

Funds are available as they are deposited.

You cannot contribute to a DCFSA while you or a spouse are not working (i.e. leave of absence, hiatus, unemployed, etc.)

DEADLINES

Runout Period: All expenses incurred in 2017, must be submitted to Crosby Benefits no later than March 31, 2018.

Grace Period: You have until March 15, 2018, to incur claims to spend down your remaining 2017 balance.

Use-it-or-Lose-it: If all 2017 funds are not submitted by the deadline dates listed above, you will lose the remaining balance in your account.

NONDISCRIMINATION TESTING:

Dartmouth is required under the Internal Revenue Code (IRC) to conduct nondiscrimination testing each year. The nondiscrimination testing assures the plans do not favor highly compensated employees. If Dartmouth's plans do not pass the test, the Plan Administrator may reduce or cancel your salary deduction if it is necessary to satisfy provisions of the IRC. Benefits will notify you if it becomes necessary to reduce or cancel your contributions.